Investors Flee Cathie Wood's ARKK ETF As It Trails S&P 500, Nasdaq 100 By Far - Tesla (NASDAQ:TSLA), ARK

Cathie Wood’s ARK Innovation ETF (CBOE: ARKK) is shedding assets this year as it continues to underperform the technology-heavy Nasdaq 100 Index.

ARKK ETF Has Shed $313 Million in Assets This Year

Investors have withdrawn more than $313 million from the fund so far this year, bringing its assets under management down to $7.2 billion, well below its peak of $29 billion. The outflows stand in sharp contrast to the broader U.S. ETF market, which has attracted more than $1 trillion in inflows this year.

ARKK stock has gained just 2% year-to-date, while the Nasdaq 100 and S&P 500 have risen 20% and 9%, respectively. It has slumped by 31% in the last five years, while the two indices have jumped by 116% and 80%, respectively.

ARKK ETF vs Nasdaq 100 and S&P 500 | Source: TradingView